2401 Carter St · Wilmington, DE 19802

$169,900

3 bd · 1.0 ba · 1,125 sqft · Townhouse public records · 78 Days on market

Built 1915 1,307 sqft lot $151/sqft · 37% above area Est $124k · 37% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +5.5/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this newly renovated home within the city limits. This home is like buying brand new construction. Brand new roof, electric, plumbing, flooring, windows and HVAC. There are 3 nice size bedrooms and a powder room on the main floor. The upstairs bathroom has been eloquently updated with stylish tiling. All light fixtures are also brand new. The full basement can easily be finished off or it can be used as a huge storage area. The fenced in backyard can be setup as a nice oasis for BBQ's and outside entertainment. This property would be great for a first time home buyer. Located on a quiet street just minutes from public transportation and I-95. Make your appointment today. * * * This property is part of the Wilmington Neighborhood Conservancy Land Bank. Owner occupancy requirements of 5 years is required. This agreement can be transferred if buyer sells before 5 years to new owner-occupied owners.

Key facts

• Brand new plumbing
• Brand new roof
• Brand new flooring

Tags

• BRAND NEW ROOF
• BRAND NEW ELECTRIC
• BRAND NEW PLUMBING
• BRAND NEW FLOORING
• BRAND NEW WINDOWS
• BRAND NEW HVAC

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $160k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.6% in Wilmington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#52 in DE) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, schools D, commute D.
• Brandywine School District (suburban): math 28% / reading 40% proficiency, ranked #11 of 26 in DE (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.7%/yr); 119 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,367 units permitted in New Castle County in 2024 (201 in 5+ unit buildings).
• This rent runs 40% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• New Castle County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $6k; list at $170k implies a 2514% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.73%
• DSCR: 1.43
• GRM: 8.0

CMA / ARV

• ARV (median comp): $124,044
• List price: $169,900
• Delta: 36.97%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2717 N West St	0.30mi	3/1.0	1,150 (+2%)	2mo	$155,000	$135	81
2412 Lamotte St	0.02mi	3/1.0	1,275 (+13%)	0mo	$125,000	$98	76
2708 Thompson Pl	0.38mi	3/1.0	1,175 (+4%)	1mo	$215,000	$183	74
212 W 25th St	0.27mi	3/1.0	1,225 (+9%)	1mo	$80,000	$65	72
3003 N Tatnall St	0.38mi	2/1.0 (-1)	1,050 (-7%)	1mo	$165,000	$157	66
103 W 29th St	0.30mi	3/1.5	1,250 (+11%)	2mo	$150,000	$120	64
417 E 35th St	0.68mi	3/1.0	1,150 (+2%)	2mo	$227,000	$197	63
206 W 26th St	0.27mi	3/2.0	1,250 (+11%)	2mo	$228,000	$182	63
3208 N Madison St	0.63mi	3/1.0	1,200 (+7%)	2mo	$274,999	$229	58
1029 Clifford Brown Walk	0.70mi	4/1.5 (+1)	1,175 (+4%)	2mo	$30,000	$26	52
623 W Twenty Eighth St	0.63mi	3/1.5	1,250 (+11%)	0mo	$235,000	$188	50
1212 N Tatnall St	0.73mi	3/1.0	1,275 (+13%)	0mo	$165,000	$129	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.72% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,952
• Equity at exit: $25,333

10-year hold

• IRR: 13.0%
• Equity multiple: 2.15×
• Total profit: $54,712
• Equity at exit: $14,690

Cash invested: $47,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 70 Landlord-Friendly
• State Delaware: 70 Landlord-Friendly · D+7
• County: — inherits STATE
• City: — inherits STATE

Court of Common Pleas hears L&T; moderate-paced. No state rent control.

Methodology + full state rankings →

ZIP-level market 19802

• Rents YoY: 5.7%
• Active inventory: 119
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,777 high
• Mortgage (P&I): −$891
• Tax from tax record: −$56 /mo · $675/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $386

Break-even live

Break-even rent $1,289

Max offer price $169,900

Occupancy floor 73%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	43d	1	0.02mi
5 E 24th St Unit 1 Wilmington, DE	3.0	1.0	1150	$1,795	$1.56	43d	1	0.07mi
2705 Speakman Pl Wilmington, DE	3.0	1.5	1100	$1,975	$1.80	12d	1	0.22mi
302 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1450	$1,295	$0.89	24d	1	0.36mi
306 W 23rd St Unit 2 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	43d	1	0.37mi
306 W 23rd St Unit 1 Wilmington, DE	2.0	1.0	1475	$1,295	$0.88	24d	1	0.37mi
306 Concord Ave Unit 2 Wilmington, DE	3.0	1.0	1100	$1,350	$1.23	43d	1	0.38mi
312 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	700	$1,295	$1.85	24d	1	0.39mi
314 Concord Ave Unit 2 Wilmington, DE	2.0	1.0	1300	$1,295	$1.00	24d	1	0.39mi
3005 N West St Wilmington, DE	3.0	1.0	1176	$1,900	$1.62	24d	1	0.42mi
2923 N Washington St Wilmington, DE	3.0	1.0	1225	$1,600	$1.31	1d	1	0.43mi
400 W 29th St Wilmington, DE	3.0	1.5	1125	$1,950	$1.73	43d	1	0.44mi
2601 N Heald St Wilmington, DE	3.0	1.0	1025	$1,795	$1.75	1d	1	0.44mi
3003 N Washington St Wilmington, DE	3.0	1.0	1250	$1,950	$1.56	43d	1	0.45mi
918 E 17th St Unit 1 Wilmington, DE	3.0	1.0	1100	$1,795	$1.63	1d	1	0.45mi
517 W 26th St Unit NA Wilmington, DE	3.0	1.5	1344	$1,900	$1.41	24d	1	0.50mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,500	$1.36	12d	1	0.52mi
409 W 20th St Unit 2 Wilmington, DE	2.0	1.0	1100	$1,700	$1.55	10d	1	0.52mi
604 W 20th St Unit 2 Wilmington, DE	2.0	1.0	900	$1,195	$1.33	24d	1	0.62mi
518 E 12th St Wilmington, DE	2.0	1.0	875	$1,425	$1.63	20d	1	0.62mi
608 W 20th St Wilmington, DE	2.0	1.0	800	$1,400	$1.75	43d	1	0.63mi
1217 N King St Wilmington, DE	3.0	1.5	1300	$2,145	$1.65	18d	1	0.63mi
1124 Clifford Brown Walk Wilmington, DE	2.0	1.0	1240	$1,625	$1.31	43d	1	0.64mi
107 W 13th St Wilmington, DE	3.0	1.5	1325	$1,895	$1.43	43d	1	0.67mi
547 Eastlawn Ave Wilmington, DE	3.0	1.0	1400	$1,995	$1.43	43d	1	0.68mi
1026 Bennett St Wilmington, DE	3.0	1.0	1125	$1,685	$1.50	1d	1	0.73mi
1004 N Spruce St Wilmington, DE	3.0	1.5	1075	$1,800	$1.67	18d	1	0.74mi
605 E 10th St Wilmington, DE	3.0	1.0	1200	$1,850	$1.54	24d	1	0.74mi
928 Kirkwood St Wilmington, DE	3.0	1.5	1150	$1,700	$1.48	17d	1	0.78mi
1001 N Orange St Wilmington, DE	1.0–2.0	1.0–2.0	833	$2,135	$2.56	1d	62	0.82mi
507 Barrett St Wilmington, DE	3.0	1.0	1275	$1,700	$1.33	43d	1	0.82mi
913 N Market St Wilmington, DE	1.0–2.0	1.0–2.0	974	$1,985	$2.04	43d	5	0.85mi
835 N Spruce St Wilmington, DE	3.0	1.0	775	$1,700	$2.19	1d	1	0.86mi
116 W 9th St Wilmington, DE	1.0–2.0	1.0–2.0	813	$2,250	$2.77	1d	16	0.93mi
3408 Miller Rd Wilmington, DE	1.0–2.0	1.0–2.0	889	$1,775	$2.00	5d	6	0.93mi
228 W 9th St Unit 201 Wilmington, DE	2.0	2.0	1031	$1,695	$1.64	44d	1	0.94mi
15 W Girard St Unit 105 Wilmington, DE	2.0	1.0	740	$1,645	$2.22	5d	1	0.95mi
801 N Market St Unit 207 Wilmington, DE	2.0	2.0	1239	$1,895	$1.53	5d	1	0.96mi
839 N Tatnall St Unit 303 Wilmington, DE	2.0	2.0	876	$1,475	$1.68	5d	1	0.96mi
839 N Tatnall St Unit 101 Wilmington, DE	2.0	2.0	1211	$1,750	$1.45	5d	1	0.96mi

Listing history 30 events

1. 2026-06-18
   days on market $169,900 Active 78 DOM
2. 2026-06-17
   days on market $169,900 Active 77 DOM
3. 2026-06-16
   days on market $169,900 Active 76 DOM
4. 2026-06-15
   days on market $169,900 Active 75 DOM
5. 2026-06-13
   days on market $169,900 Active 73 DOM
6. 2026-06-09
   days on market $169,900 Active 69 DOM
7. 2026-06-08
   days on market $169,900 Active 68 DOM
8. 2026-06-07
   days on market $169,900 Active 67 DOM
9. 2026-06-04
   days on market $169,900 Active 64 DOM
10. 2026-06-03
    days on market $169,900 Active 63 DOM
11. 2026-06-02
    days on market $169,900 Active 62 DOM
12. 2026-06-01
    days on market $169,900 Active 61 DOM
13. 2026-05-31
    days on market $169,900 Active 60 DOM
14. 2026-04-01
    listed $169,900 Active 923-char remark

    Show marketing remark (923 chars)

    Come see this newly renovated home within the city limits. This home is like buying brand new construction. Brand new roof, electric, plumbing, flooring, windows and HVAC. There are 3 nice size bedrooms and a powder room on the main floor. The upstairs bathroom has been eloquently updated with stylish tiling. All light fixtures are also brand new. The full basement can easily be finished off or it can be used as a huge storage area. The fenced in backyard can be setup as a nice oasis for BBQ's and outside entertainment. This property would be great for a first time home buyer. Located on a quiet street just minutes from public transportation and I-95. Make your appointment today. * * * This property is part of the Wilmington Neighborhood Conservancy Land Bank. Owner occupancy requirements of 5 years is required. This agreement can be transferred if buyer sells before 5 years to new owner-occupied owners.

15. 2026-03-31
    historical
16. 2026-01-08
    status Active
17. 2025-12-31
    historical
18. 2025-11-17
    listed $169,900 Active
19. 2025-11-12
    historical
20. 2025-10-21
    price $179,900
21. 2025-10-07
    listed $185,000 Active
22. 2011-11-17
    historical
23. 2011-05-10
    listed $32,000
24. 2010-04-20
    soldstatus $6,500
25. 2010-04-20
    soldstatus $6,500
26. 2010-04-06
    historical
27. 2009-12-17
    listed $12,900
28. 2009-12-17
    listed $12,900
29. 2007-01-26
    soldstatus $44,900
30. 2007-01-02
    listed $44,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast DE · Partial reset (capped growth)

• Current annual tax: $675 · $56/mo
• Projected year-2 tax: $830 · $69/mo
• Expected delta: +$155/yr (+$13/mo · 23.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,321
• − Mortgage interest: −$9,517
• − Property taxes: −$675
• − Insurance: −$850
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$4,943
• Taxable income: $1,925
• Est. tax owed @ 24.0%: −$462
• After-tax cash flow: $4,165/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Brandywine School District
• NCES district ID: 1001240
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 40% ▼ -13.00%
• Median HH income: $68,743
• Composite: 31.27/100
• National rank: #6019
• State rank: #11 of 26 in DE

Livability — Wilmington

• Score: 64/100
• State rank: #52
• US rank: #14251

Category grades

Amenities F Commute D Cost of living A+ Crime F Employment D+ Housing A Health & safety D- User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, DE
• County: New Castle County · 483,412 people
• City population: 173,480
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 26,051
• Household income: $53,812
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1816.0

Population outlook (New Castle County) Hauer SSP2

• Today (2025): 594,686 people
• By 2030: 609,164 · +2.4%
• By 2040: 632,154 · +6.3%
• By 2050: 649,068 · +9.1%
• By 2075: 687,771 · +15.7%
• By 2100: 694,961 · +16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 20% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Slovak 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 4% Arabic 0%

Political lean MEDSL · New Castle

• 2024 margin: Solid D (+32.6) · D 65.5% · R 32.9% · Other 1.6%
• 2008→2024 swing: -8.1pp toward R · 2008: 40.6pp · 2024: 32.6pp
• All cycles: 2024: D+32.6 2020: D+37.1 2016: D+29.6 2012: D+34.1 2008: D+40.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -296.47%
• Current HPI: 225.6613
• Rent YoY: ▲ 5.72%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: —
• F500 in state: 0

Price history

+278.4% since first listed

17 events — show timeline

• 2026-04-01 Listed $169,900 BRIGHT MLS
• 2026-03-31 Listing Removed — BRIGHT MLS
• 2026-01-08 Relisted — BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-11-17 Listed $169,900 BRIGHT MLS
• 2025-11-12 Listing Removed — BRIGHT MLS
• 2025-10-21 Price Changed $179,900 BRIGHT MLS
• 2025-10-07 Listed $185,000 BRIGHT MLS
• 2011-11-17 Listing Removed — BRIGHT MLS
• 2011-05-10 Listed $32,000 BRIGHT MLS
• 2010-04-20 Sold (MLS) $6,500 BRIGHT MLS
• 2010-04-20 Sold (MLS) $6,500 TREND
• 2010-04-06 Listing Removed — BRIGHT MLS
• 2009-12-17 Listed $12,900 BRIGHT MLS
• 2009-12-17 Listed $12,900 TREND
• 2007-01-26 Sold (MLS) $44,900 BRIGHT MLS
• 2007-01-02 Listed $44,900 BRIGHT MLS

Property tax history

-7.2%/yr

Latest (2024): $675 · +12.6% YoY. Source: county tax records.